PPT of accounts ch acounting equations terms

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1. WELCOME NAME = KRRISH PPT OF BASIC ACCOUNTING TERMS

2. BASIC ACCOUNTING TERMS 2

3. Business transaction A business transaction is a financial transaction between two or more parties that involves the exchange of goods, money, or services . 3

4. CAPITAL Amount invested by owner or partners in the business in form of cash or assets having some monetary value . Conference presentation 4

5. ASSETS An Asset is an item owned or controlled by a business. It has economic value that can be realised by either converting it into cash or generating income for the company.  Conference presentation 5

6. EXPENDITURE Revenue expenditure refers to the expenses incurred by a business in its day-to-day operations to generate revenue . A capital expenditure (in short, CapEx ) means money spent by a business or any organisation to acquire or maintain any fixed assets and intangible assets used in business operations. This term refers to money spent during one accounting period with the intention of creating revenue in a future accounting period. Conference presentation 6

7. GOODS A good is a physical product capable of being delivered to a purchaser and involves the transfer of ownership from the seller to customer.   7

8. DISCOUNT TRADE DISCOUNT A trade discount is an amount by which a manufacturer decreases the listed price of a product when it sells to a reseller, rather than to the final customer Conference presentation 8 Cash discount A cash discount is a decrease in the value of an invoice that the seller agrees with the buyer.

9. MAIN TERMS Income is defined as the money you make in the business cycle through business activities. A profit that arises from events or transactions which are incidental to business   A decrease in net income that is outside the normal operations of the business.   9 INCOME GAIN LOSS

10. BAD DEBTS It is the amount that has become irrecoverable from a debtor It is a business loss Conference presentation 10

11. Mirjam Nilsson 206-555-0146 [email protected] www.contoso.com Conference presentation 11